SoftBank CEO says Sprint could shake up U.S. ‘oligopoly’
WASHINGTON (Reuters) – The chief executive of Japan’s SoftBank Corp on Tuesday called the U.S. wireless market an oligopoly plagued by slow speeds and high prices and said his company’s Sprint Corp could shake up the competition, but it would require a…
Fed set to ditch ‘threshold’ guidance under Yellen
NEW YORK/SAN FRANCISCO (Reuters) – Janet Yellen’s first policy-setting meeting as chair of the U.S. Federal Reserve will focus on how to finesse a rewriting of the central bank’s promise to keep interest rates low without roiling financial markets.
Anti-union workers win voice in UAW fight at Tennessee VW plant
(Reuters) – The U.S. National Labor Relations Board has decided that anti-union Volkswagen workers can defend the results of a mid-February union election that the United Auto Workers lost at a Chattanooga, Tennessee VW plant.
Ecobank board removes CEO following months of turmoil
ACCRA (Reuters) – The board of Ecobank removed its chief executive, Thierry Tanoh, on Tuesday following months of turmoil at one of the biggest financial institutions in sub-Saharan Africa.
Bank of England announces shake-up as it probes FX case
LONDON (Reuters) – The Bank of England announced an overhaul of the way it works with banks and financial markets on Tuesday as it faced growing criticism of its response to possible manipulation of foreign exchange rates.
Tesla, NJ Governor Christie clash over direct sales to customers
(Reuters) – Tesla Motors Inc said New Jersey Governor Chris Christie’s administration was pushing forward with a regulation that would hamper sales in the state by forcing the electric-car company to use dealers instead of selling directly to customers…
Senate banking leaders sketch out Fannie, Freddie bill
WASHINGTON (Reuters) – The leaders of the Senate Banking Committee on Tuesday announced an agreement on legislation to wind down government-owned mortgage financiers Fannie Mae and Freddie Mac, jump-starting a long-standing debate that could still take…
Fiat CEO’s pay drops to $5 million in 2013
MILAN (Reuters) – Italian automaker Fiat paid Chief Executive Sergio Marchionne 3.6 million euros ($5 million) in cash last year, including a bonus and incentives, down from 4.5 million euros in 2012, the group’s compensation report showed.
U.S. Senate seeks hearings on GM recalls: aide
WASHINGTON (Reuters) – A probe by the U.S. Congress into General Motors’ recall of malfunctioning cars blamed for 13 deaths expanded on Tuesday when Senate Commerce Committee Chairman John Rockfeller sought hearings related to the company’s ignition sw…
ECB to take tough stance in health check on banks
FRANKFURT (Reuters) – The European Central Bank (ECB) will press euro zone banks to revalue their assets and take a more realistic view on likely losses when it probes their balance sheets in the coming months, signaling a new, more aggressive era of b…
